SEC Whistleblower Program Likely to Survive

Business InsuranceFebruary 9, 2017

Jordan A. Thomas comments on the future of the SEC Whistleblower Program

While the President has expressed an unfavorable opinion of the Dodd-Frank Wall Street Reform and Consumer Protection Act, it’s unlikely that he will to get rid of the Securities and Exchange Commission’s Whistleblower Program.

Partner and Whistleblower Chair Jordan A. Thomas told Business Insurance, “It’s been wildly successful, so I think it will be difficult for folks to take apart.” He noted that the person named as SEC chairman and director of enforcement will be judged on the number of enforcement actions and sanctions they bring.

Thomas also discussed his personal experience in whistleblower matters and mentions that among the factors considered in order to accept a whistleblower as a client are whether they are insiders or outsiders, if there is a securities violation and, if so, how significant. “It needs to be a significant matter,” he said. “We definitely meet with people in most cases,” and it is common for them to bring documents, some of which are corporate documents. When asked about the length of time between the whistleblower’s first phone call and a check, Thomas said, “less than five years would be a good outcome.”

Attorney Advertising
Prior results do not guarantee a similar outcome. Some visual images used herein include models. The materials appearing on this website are provided for informational purposes only and do not constitute legal advice. You should not take action based upon this information without consulting legal counsel. This site is not intended to create an attorney-client relationship. The hiring of a lawyer is an important decision that should not be based solely upon any single source of information, including advertising on this website. You may ask us to send you further information about us, and we urge you to review other sources of information about us.